Höegh Autoliners orders four more car carriers from China Merchants Heavy

Norway’s Höegh Autoliners has exercised an option to construct an additional four new multi-fuel and net zero carbon ready Aurora class vessels.

Höegh Autoliners will have the option to convert one or more of these vessels to ammonia propulsion as soon as the technology is available.

This brings the number of total vessels under the newbuilding program to 12 vessels, all of which will be built by China Merchants Heavy Industry.

The first of the dozen vessels is scheduled to be delivered in July 2024. Höegh has the option to build another four vessels, as well as slot reservations for additional four vessels – a total of 20 if all options are exercised.

The company will finance the newbuilds with a combination of equity from operation and debt. The company said that it was actively exploring various financing alternatives and anticipates having committed financing in place before year-end.

The deal for the first four vessels was signed in January of last year while the option for four more was exercised in April of the same year.